If I quit my job, would I be able to qualify for the program since I would have less than 31% of my monthly income and be unable to pay for my monthly mortgage paymentgs? The program is unclear on what a hardship is, and if you have to be laid off or fired. What prevents people from just quitting their job to qualify for the program, then get another one once they are accepted and put on the plan?
Note – This is what I’m trying to confirm if its true or not “Plus, if you quit your job, your lender isn’t going to modify your loan because your hardship is your own fault”
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My husband and I have decided to file Chapter 7. We have already contacted a bankruptcy attorney, but have not officially filed. We are going to surrender our house. It is worth less than what we owe on it. We are currently less than 1 month behind on our mortgage payment. How long after filing would we need to be out of the house? We don’t want to get notice and have to be out all of a sudden. By the way, we are filing in Illinois. Please…no responses about how bankruptcy is a bad thing. You don’t know our financial situation. Thank you.
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How much would the foreclosure of a $150,000 mortgage affect a credit score, and for how long? Let’s say the mortgage is about a quarter paid off, and the credit score is relatively good (~650).
7-10 years?
That sounds more like a bankruptcy.
Please note: this is purely theoretical. I am not going through a foreclosure, and I likely won’t, so please don’t sympathize with me. I, however, sympathize with you; it must be incredibly tough to go through one.
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Before I drive to see a financial aid person at the college. I am filling out an online application to consolidate my student loans. I am almost done, however, my 2009 AGI is lower than my present source of income. I put in my 09 AGI and entered my current amount of income. Sense those two do not match will not allow me to continue. Do i enter my new AGI (current) because technically I have not filed my 2010 taxes yet. Should I just send in a paper form with my 09 taxes with a current paystub?
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The same week my husband looked into a balance transfer credit card I started an application for a mortgage refinance to get rid of some credit card debt. My husband was turned down for the credit card now he is worried about the mortgage finance. We have had our mortgage with the same bank for 11 years. WIll there be a problem with the refinance? Like I said they alreaqdy saw our credit bureau reports and they were fine.
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I have some defaulted student loans and I just found out that I wont be getting a tax refund back due to these loans. Now I have 2 dependents to take care of and i need all of my money. I was wondering if i was to consolidate all of my student loans though a debt consolidation agency would that stop the dept of education from taking my tax refund?
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